U.K. Housing Market Remains Subdued

(RTTNews) - Heightened uncertainty caused by the general election resulted in a subdued housing market in the U.K. during May, fresh data has suggested. House prices in Britain rose 0.2% in May from April, reports said on Monday citing property intelligence group Hometrack. Prices were up 2% compared to a year earlier.

"Uncertainty generated by the election had a clear impact on housing market activity with fewer buyers coming to the market, a marked slowdown in sales agreed and a drop off in the number of new homes for sale," said Richard Donnell, Hometrack's director of research.